15 May 2008
For Immediate Release

By: Dato’ Hj. Mohd Amin bin Mohd Salleh, Managing Director of SPNB

Telok Air Tawar, Seberang Perai, Penang, May 15 - SPNB has successfully obtained Certificate of Fitness Occupation (CFO) for Taman Sejahtera Indah from Seberang Perai Municipal Council on May 12, 2008.

Seberang Perai Municipal Council has issued the CFO in partial with CFO of the 226 units of single storey and double storey houses been awarded first while the balance of 11 units of double storey and 82 units of apartments to be granted in near future. The project which was abandoned nearly eight years ago, has been successfully rehabilitated by SPNB in early 2008 at the cost of RM75 million.

The development of the project had started in 1996 and scheduled to be completed in 2000. However, due to the economic crisis and financial problem faced by the previous developer, the project was left abandoned.

SPNB was instructed by the Ministry of Finance to undertake and rehabilitate the project at 0-65 percent of completion without charging any additional cost to the house buyers.

SPNB will contact all the house buyers to handover the house keys soon. For more information about this project, please call SPNB at 03-20573408 / 20523962 during office hours.

In Penang, SPNB has succesfully rehabilitated eight projects which consists of 3,664 unit of houses through the financial assistance from the government and consultation by SPNB.

Currently, SPNB is rehabilitating a total of six abandon projects consist of 2,035 units of houses valued at RM127 million. Another 12 projects that consists of 1,847 units of houses to be rehabilitated soon.

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